25 Feb VA Loans, Educational Assistance, and Other Programs
Everything the VA offers to give you a comfortable and secure future
The VA or the Veterans Administration is one of the ways of the United States government for thanking the countless men and women who served in the armed forces. For those who are presently serving or have served in the US military, knowing what all the VA offers is the key to making a stable and secure present and future for themselves and their families.
The VA has a host of benefits to offer, which can be classified into three categories- better access to financial products, career-assistance, and monetary aid. Significant programs that come under these categories are listed below.
Granting greater access to various financial products
Under this program, the VA backs up different kinds of products for veterans to get them better access to tools which they would either afford with great difficulty or would not get access to at all. For instance:
- VA Loans: These are home loans available to you if you are in the process of either buying a new house, renovating your old one or are just trying to afford the home that you already live in. Do not mistake this as a loan from the VA- it just guarantees a part of your loan which helps lenders give you money with greater confidence, and helps you save on quite a bit in the form of an insurance free loan, as well as zero down payment.
- Life Insurance: Service members often find it hard to purchase life insurance, due to financial or even medical conditions. To take care of just that, the VA offers coverage programs for you as well as your family. These can be availed by both former and current service members.
Assistance for career transitions
Transitioning from a military to civilian career comes with quite a few challenges, especially with the kind of job market there is today. The VA offers education funding for veterans, wherein it helps veterans to pay for their education that they may be necessary for holding civilian jobs. It also helps veterans with expenses related to tuition, living expenses and even books while they are studying.
Additionally, it also has programs for employment and vocational rehabilitation, to help them better understand the kinds of jobs that suit their skills and how they can find the same.
The VA has three types of financial aid for veterans and their families, all of which are tax-free:
- Disability Compensation- It is to compensate for the lost ability or time to work arising from a medical condition caused by service in the military.
- Indemnity and Dependency Compensation- It is for the spouse, child or parent of someone who died from something during military training or service.
- Special Monthly Compensation: For veterans who have serious medical conditions, aid like this is to help them get the extra care associated with the condition.
Understanding all that the VA offers is crucial to living a life that you deserve and also plan for the future that your family wants- visit the VA’s website to know more about the same.